QUALCOMM (NASDAQ:QCOM) Trading Up 1.5%

QUALCOMM Incorporated (NASDAQ:QCOM - Get Free Report) shares were up 1.5% on Friday . The stock traded as high as $167.65 and last traded at $167.52. Approximately 744,293 shares traded hands during trading, a decline of 92% from the average daily volume of 9,189,519 shares. The stock had previously closed at $164.98.

Analysts Set New Price Targets

QCOM has been the topic of several recent analyst reports. Tigress Financial increased their target price on QUALCOMM from $238.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, June 21st. Hsbc Global Res lowered QUALCOMM from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 17th. Citigroup raised their price target on shares of QUALCOMM from $170.00 to $200.00 and gave the company a "neutral" rating in a report on Monday, July 15th. HSBC downgraded shares of QUALCOMM from a "buy" rating to a "hold" rating and set a $200.00 price objective on the stock. in a research report on Wednesday, July 17th. Finally, Piper Sandler reiterated an "overweight" rating and set a $205.00 target price (up from $185.00) on shares of QUALCOMM in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $210.63.

QUALCOMM Stock Performance

The business's fifty day moving average is $176.11 and its two-hundred day moving average is $181.70. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $186.85 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 1.82 and a beta of 1.28.

QUALCOMM (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The wireless technology company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.21. The firm had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.23 billion. QUALCOMM had a return on equity of 38.12% and a net margin of 23.32%. As a group, research analysts anticipate that QUALCOMM Incorporated will post 8 EPS for the current fiscal year.

QUALCOMM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 5th will be paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, September 5th. QUALCOMM's dividend payout ratio (DPR) is 45.70%.

Insider Buying and Selling

In other news, CFO Akash J. Palkhiwala sold 3,000 shares of the firm's stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $205.61, for a total value of $616,830.00. Following the sale, the chief financial officer now directly owns 60,343 shares in the company, valued at approximately $12,407,124.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CTO James H. Thompson sold 8,000 shares of the company's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $160.50, for a total transaction of $1,284,000.00. Following the transaction, the chief technology officer now owns 229,987 shares in the company, valued at $36,912,913.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Akash J. Palkhiwala sold 3,000 shares of QUALCOMM stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $205.61, for a total transaction of $616,830.00. Following the completion of the sale, the chief financial officer now owns 60,343 shares of the company's stock, valued at $12,407,124.23. The disclosure for this sale can be found here. Insiders sold 19,000 shares of company stock worth $3,496,590 in the last three months. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On QUALCOMM

A number of large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in QUALCOMM during the fourth quarter worth about $2,507,978,000. Matrix Capital Management Company LP purchased a new position in shares of QUALCOMM during the 1st quarter valued at approximately $1,171,516,000. Massachusetts Financial Services Co. MA lifted its stake in shares of QUALCOMM by 1,778.7% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,219,303 shares of the wireless technology company's stock valued at $641,221,000 after purchasing an additional 3,047,947 shares during the period. Price T Rowe Associates Inc. MD grew its position in QUALCOMM by 8.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company's stock valued at $3,664,418,000 after buying an additional 1,909,025 shares during the period. Finally, Van ECK Associates Corp increased its holdings in QUALCOMM by 34.8% in the first quarter. Van ECK Associates Corp now owns 5,890,193 shares of the wireless technology company's stock valued at $997,210,000 after buying an additional 1,519,781 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company's stock.

QUALCOMM Company Profile

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.